DIRECTV 2009 Annual Report Download - page 106
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DIRECTV
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS—(continued)
Note 8: Accounts Payable and Accrued Liabilities; Other Liabilities and Deferred Credits
The following represent significant components of ‘‘Accounts payable and accrued liabilities’’ in our
Consolidated Balance Sheets as of December 31:
2009 2008
(Dollars in Millions)
Programming costs ................................................ $1,788 $1,640
Accounts payable ................................................. 582 433
Equity collars (see Note 9 for additional information) ...................... 400 —
Property and income taxes .......................................... 157 161
Payroll and employee benefits ....................................... 204 165
Interest payable .................................................. 47 45
Other ......................................................... 579 671
Total accounts payable and accrued liabilities ......................... $3,757 $3,115
The following represent significant components of ‘‘Other liabilities and deferred credits’’ in our
Consolidated Balance Sheets as of December 31:
2009 2008
(Dollars in Millions)
Other accrued taxes ............................................... $ 595 $ 428
Obligations under capital leases ...................................... 537 542
Pension and other postretirement benefits ............................... 135 179
Deferred credits ................................................. 78 122
Programming costs ................................................ 76 251
Other ......................................................... 257 227
Total other liabilities and deferred credits ............................ $1,678 $1,749
Note 9: Debt
The following table sets forth our outstanding debt:
December 31,
2009 2008
(Dollars in Millions)
Senior notes .................................................... $4,490 $3,410
Senior secured credit facility, net of unamortized discount of $7 million as of
December 31, 2009 and $9 million as of December 31, 2008 ................ 2,316 2,421
Collar Loan ..................................................... 1,202 —
Unamortized bond premium ......................................... 2 2
Total debt .................................................... 8,010 5,833
Less: Current portion of long-term debt ................................ (1,510) (108)
Long-term debt ................................................ $6,500 $5,725
All of the senior notes and the senior secured credit facility were issued by DIRECTV U.S. The
senior secured credit facility is secured by substantially all of DIRECTV U.S.’ assets.
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